1,331 Shares in Crane (NYSE:CR) Acquired by Consolidated Planning Corp

Consolidated Planning Corp bought a new stake in shares of Crane (NYSE:CR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,331 shares of the conglomerate’s stock, valued at approximately $211,000.

Other hedge funds also recently modified their holdings of the company. Silvercrest Asset Management Group LLC grew its position in Crane by 4.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 193,053 shares of the conglomerate’s stock valued at $26,087,000 after purchasing an additional 7,945 shares in the last quarter. Castleark Management LLC grew its holdings in shares of Crane by 13.7% during the 1st quarter. Castleark Management LLC now owns 33,360 shares of the conglomerate’s stock valued at $4,508,000 after acquiring an additional 4,020 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Crane by 70.1% in the first quarter. Russell Investments Group Ltd. now owns 75,410 shares of the conglomerate’s stock worth $10,190,000 after acquiring an additional 31,069 shares during the last quarter. Capital International Investors raised its holdings in shares of Crane by 103.3% during the first quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock worth $182,216,000 after acquiring an additional 685,230 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Crane by 11.9% during the second quarter. AQR Capital Management LLC now owns 192,452 shares of the conglomerate’s stock valued at $27,902,000 after purchasing an additional 20,518 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CR. Deutsche Bank Aktiengesellschaft upped their target price on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus increased their price objective on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.33.

Crane Stock Performance

Shares of NYSE CR opened at $175.98 on Friday. The business’s 50-day simple moving average is $156.29 and its 200-day simple moving average is $150.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a 52 week low of $99.98 and a 52 week high of $177.24. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 38.76, a P/E/G ratio of 1.93 and a beta of 0.81.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating the consensus estimate of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million for the quarter, compared to the consensus estimate of $594.45 million. During the same quarter last year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s dividend payout ratio is 18.06%.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.